Projected Revenue of Elite Women's Sports Exceeds $12 Billion in Upcoming Year
Elite women's sport set to generate $128 billion in 2024, marking a remarkable 300% increase from three years ago, as predicted by financial analysts Deloitte
In 2024, elite women's sports is expected to generate $1.28 billion in revenue, a significant increase of 300% from three years prior, as projected by financial analysts at Deloitte. The forecast is based on three primary revenue streams - matchday, broadcast, and commercial - and anticipates that soccer and basketball will be the most lucrative sports, with projected revenues of $555 million and $354 million, respectively.
On September 09, 2023, Billie Jean King was honored at the International Tennis Hall of Fame Legends Ball at Cipriani 42nd Street in New York City, where she spoke onstage.
Roy Rochlin/Getty Images
Tennis great Billie Jean King urges the sport to work together after controversial season finale
"In recent years, there has been remarkable growth in women's sports worldwide, resulting in a significant increase in its commercial value. This has attracted the attention of potential investors," stated Jennifer Haskel, insights lead for Deloitte's Sports Business Group. "Importantly, women's sports is now being recognized as a distinct and unique product, separate from men's elite sports."
The forecast is especially promising for women's sports, which has been steadily gaining momentum in recent years. A prime example of this is the huge success of the FIFA Women's World Cup, which has introduced the sport to a whole new audience.
These tournaments have highlighted areas in need of improvement and where women continue to experience discrimination in sports. For instance, Spain's World Cup victory was marred by a controversy over an unwanted kiss between former Spanish soccer federation boss Luis Rubiales and Jennifer Hermoso, leading to a crisis in Spanish soccer and widespread condemnation.
Deloitte predicts the Women's Tennis Association (WTA) tour will be a major contributor to revenue next year.
Sarah Stier/Getty Images
Deloittes predictions forecast that valuations of womens teams and leagues will continue to rise, with broadcast deals becoming increasingly lucrative.
Women's sports in Europe are reaching new heights, with North America projected to be the most valuable geographical market. Deloitte anticipates the region will generate $670 million next year, accounting for 52% of the market. According to Paul Lee, global head of technology, media, and telecoms research at Deloitte, broadcasters, streamers, and social media platforms will play a crucial role in showcasing major events to engage both new and existing fans, creating a memorable and impactful experience.
"The next step will be maintaining habitual viewers who loyally tune in to watch their favorite players, teams and competitions across the season."
